Tucows (NASDAQ:TCX) Announces Earnings Results

Tucows (NASDAQ:TCX) (TSE:TC) posted its quarterly earnings results on Thursday. The information services provider reported ($1.84) earnings per share for the quarter, FiscalAI reports. The business had revenue of $100.56 million during the quarter.

Tucows Trading Down 0.4%

TCX stock traded down $0.05 during mid-day trading on Thursday, hitting $14.07. 91,392 shares of the company were exchanged, compared to its average volume of 42,664. The business has a 50 day simple moving average of $12.39 and a 200-day simple moving average of $15.90. The stock has a market capitalization of $156.88 million, a PE ratio of -1.98 and a beta of 0.88. Tucows has a 1-year low of $8.46 and a 1-year high of $25.17.

Hedge Funds Weigh In On Tucows

A number of large investors have recently made changes to their positions in TCX. Goldman Sachs Group Inc. increased its position in Tucows by 89.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 37,119 shares of the information services provider’s stock worth $627,000 after buying an additional 17,539 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Tucows by 234.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,461 shares of the information services provider’s stock valued at $49,000 after acquiring an additional 1,726 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Tucows by 6.2% in the third quarter. Rhumbline Advisers now owns 10,078 shares of the information services provider’s stock valued at $187,000 after acquiring an additional 590 shares in the last quarter. JPMorgan Chase & Co. increased its position in Tucows by 117.4% during the third quarter. JPMorgan Chase & Co. now owns 6,923 shares of the information services provider’s stock worth $128,000 after acquiring an additional 3,739 shares during the period. Finally, Vanguard Group Inc. increased its position in Tucows by 2.6% during the third quarter. Vanguard Group Inc. now owns 481,462 shares of the information services provider’s stock worth $8,934,000 after acquiring an additional 12,392 shares during the period. Institutional investors own 73.64% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Tucows from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Tucows presently has an average rating of “Sell”.

About Tucows

Tucows Inc (NASDAQ: TCX) is a diversified internet services company primarily known for its domain name registration and management business. Through its Domain Services division, Tucows operates leading reseller platforms such as OpenSRS and Enom, offering domain registration, SSL certificates, email hosting and related value-added services to web professionals, small businesses and enterprise partners worldwide. The company’s platforms enable thousands of resellers to provide branded internet services to their customers, leveraging Tucows’ infrastructure and expertise in the domain name system.

In addition to domain services, Tucows has built a growing portfolio of consumer-facing internet access offerings under the Ting brand.